Envestnet Portfolio Solutions Inc. Boosts Stake in Chord Energy Corporation $CHRD

Key Points

• Envestnet Portfolio Solutions Inc. has significantly increased its stake in Chord Energy Corporation by 130.9% during the second quarter, now holding 6,833 shares valued at approximately $662,000.
• Brokerages have set varied price targets for Chord Energy, with Piper Sandler lowering its target from $169 to $167, while Bank of America increased theirs from $112 to $123, indicating a mixed outlook among analysts.
• Chord Energy announced a quarterly dividend of $1.30 per share, reflecting a substantial dividend yield of 5.8%, despite a dividend payout ratio of 132.32%.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 130.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,833 shares of the company's stock after acquiring an additional 3,874 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Chord Energy were worth $662,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its stake in shares of Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after purchasing an additional 341 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Chord Energy by 5,877.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after purchasing an additional 529 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Chord Energy by 254.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company's stock worth $67,000 after buying an additional 493 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Chord Energy by 89.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company's stock worth $67,000 after buying an additional 327 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Chord Energy by 184.0% in the first quarter. GAMMA Investing LLC now owns 727 shares of the company's stock valued at $82,000 after buying an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CHRD. Piper Sandler decreased their price target on Chord Energy from $169.00 to $167.00 and set an "overweight" rating on the stock in a research note on Friday, October 3rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $130.00 target price on shares of Chord Energy in a research report on Monday, October 6th. Bank of America upped their target price on Chord Energy from $112.00 to $123.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Wells Fargo & Company cut their price target on Chord Energy from $149.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Citigroup increased their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.38.

Chord Energy Stock Down 0.0%

Shares of NASDAQ:CHRD opened at $89.70 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.14 billion, a P/E ratio of 22.82 and a beta of 0.94. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $136.38. The stock's fifty day simple moving average is $101.59 and its 200-day simple moving average is $99.44.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same period in the previous year, the firm posted $4.69 EPS. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. The ex-dividend date was Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. Chord Energy's dividend payout ratio (DPR) is 132.32%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares of the company's stock, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company's stock.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.

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